Definition of "Summary possession"

Denise Perkins real estate agent

Written by

Denise Perkinselite badge icon

Keller Williams Atlanta Partners

Act of actual eviction or removal of a lessee from a property. The eviction may be either voluntarily through due process of law or involuntarily by force. This generally occurs when a lease is violated by a lessee for nonpayment of rent.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Contractual provision requiring apportionment. ...

Interest is due on a loan only if a particular circumstance occurs. ...

In conducting a real estate transaction, each party is presumed honest and fair with no deceit. The intentions are honorable and realistic. If deception occurs without prior knowledge, the ...

Equals the tax divided by taxable income. Foe example, if the tax is $30,000 on taxable income of $120,000 the effective tax rate if the business is 25% ($30,000/$120,000) ...

Fluctuation in sales, profits, rat of return, etc. Likelihood of declining value. ...

Approach to appraise rental property based on anticipated future earnings to be derived from it plus the estimated selling price at the end of he period held. ...

An agreement, debt, or low which can be operationalized, fulfilled, completed, or performed. ...

Founded in1934 and located in Chicago, IL with a 1993 membership of 8,300, the IAAO seeks to ameliorate assessment standards as well as to perform ongoing property assessment research. The ...

Square footage of space a parcel of land has. ...

Popular Real Estate Questions